Senaat, a state-owned Abu Dhabi-based holding corporation, has partnered with two Japanese steel production firms to build a Dh1.1 billion steel plant at the Khalifa Industrial Zone of Abu Dhabi (Kizad). The new company, Al Gharbia Pipe, is expected to create 370 jobs. The plan couldn't have come at a better time, as the emirate its accelerating its efforts to branch out from crude oil.The Japanese companies that are joining Senaat in this venture are JFE Steel and Marubeni-Itochu Steel. The companies will manufacture steel pipes for customers in the energy and construction industries at a plant in Kazid. Abu Dubai will be exporting 40% of its production and decrease its dependence on steel pipe imports. With this project, Senaat is upholding its mandate of supporting UAE industry and the country's diversification efforts, as well as expanding its portfolio through forging global partnerships. The new steel pipe should be up and running by 2018, and is expected to have a production capacity of 240,000 tons a year. While the Japanese firms are providing the steel plates for manufacturing the pipes, Senaat is also open to purchasing steel from local producers who can meet the specifications. The financing of the steel pipe company is expected to be completed this year. The Japanese businesses will have a 49% stake in the project. Hussain al Nowais, the Chairman of Senaat, explained that through this venture Senaat is hoping to expand the country's industrial industry. This has become very crucial, as the price of oil has dropped by 50% since North America increased its energy production. Abu Dhabi depends on oil to fuel their economic growth. Hussain al Nowais said the firm is planning to invest Dh5dn over the course of the next two years to grow the refining industry. Senaat will consider an initial public offering of one of its units sometime this year. Over the past five years, Senaat has invested over Dh16bn building up the metals sector. Currently, Senaat manages over $6.9bn in industrial assets and employs over 15,000 individuals.

The Global Financial Markets Forum (GFMF) is a gathering of investors, thought leaders, decision makers and major investors from around the world. Each year they meet to discuss trends happening in the world and their impacts on markets and prospects for the future. This year's GFMF is the seventh one and was held in Abu Dhabi. The GFMF and first day's keynote speaker was H.E. Sheikh Nahayan Bin Mubarak Al Nahayan. He spoke about Abu Dhabi's rise as the center of innovation and creativity in the world. These developments here display the ability for people from all cultures to work and live together in peace. The UAE's financial sector has backed this up by providing a robust and safe market full of innovation. As 2015 moves forward H.E. Sheikh Nahayan Bin Murbarak Al Nahayan says the UAE's financial sector will continue to be guided by the three founding principles of openness, transparency and access.According to H.E. Hussain Al Nowais, Chairman of the General Holding Corporation (Senaat) in his keynote speech the UAE's economic strength has come from its economic diversification. This diversification strategy, originally implemented in the 1970s, is the reason the country is considered a pioneering nation today. The late Sheikh Zayed's vision was to create a strong economy through industrial and economic diversification via the creation of the General Industry Corporation (GIC) which is known today as the Senaat. Hussain Al Nowais discussed how the Senaat's investments over the past years have helped make the UAE strong financially and its ripple effects throughout the world economy and the domestic economy.H.E. Nasser Ahmed Alsowaidi, chairman of NBAD, and the Chairman of Abu Dhabi Department of Energy spoke about the importance and power of the GFMF coming to the region. This is an excellent event for the world's top leaders to network and discuss future prospects. Everyone here has the opportunity to learn from each other because of the diverse mix of investors, economists, industry insiders and global policy decision makers. The UAE is at the center of the West-East corridor and this region which spans from Africa to East Asia is one of the highest growth sectors in the world today. General Colin L. Powell was at the GFMF as well and explained during his speech that the opportunity afforded him to become Secretary of State and more was unimaginable to him as a 10-year old. He went on further to discuss how important it is to prepare for the changing demographics of the coming decades and how to prepare young people for leading positions.During some of the panel's discussions Mark Schwartz, Vice Chairman of the Goldman Sachs Group Inc. and Alex Thursby Chairman of Goldman Sachs Asia Pacific expressed strong opinions about China's need to continue reforms in both the capital market and socially. They also expressed a need for China to clean up its environment before it becomes worse. Some feel that these views are a bit strong and that there is unsaid desire within Europe and the USA to see China fail. The Goldman Sachs chairman did mention that despite China's debt being 280% of its GDP that it shouldn't be an issue because of the tremendous growth opportunities ahead.Lastly, one of the most important developments happening in Africa is governments beginning to partner with the private sector and build relationships. This bodes well for the creation of new employment opportunities and economic development.

The new Board of Directors for the Khalifa Fund for Enterprise Development held their first meeting on January 8th, when they discussed how they will develop and improve the Fund's services. Chairman Hussain al Nowais announced that the fund will continue its efforts to contribute effectively in the process of empowerment for Emiratis in different society segments to enhance the level of social welfare.

He went on to say that the Khalifa Fund's management requires hard work and dedication to continue the efforts to accomplish the goal of building the Khalifa Fund. Al Nowais noted this year is the year to develop, enhance and accelerate the Fund's services and processes. The Fund's management will release initiatives aimed to promote the culture of entrepreneurship and to support the country's SMEs sector. Al Nowais called on all departments involved with the Fund to put forth their highest efforts to improve the quality and quantity of the funded projects focused on helping the national economy.

Chief Executive Officer H. E. Abdullah Saeed Al Darmaki introduced the new Board Members to the Fund's mission and objectives. He also explained the Fund's programs and social and economic initiatives. The Fund's mission is to provide comprehensive programs that satisfy the needs of entrepreneurs during their effort to start or grow their businesses. These programs include training, development and marketing, as well as providing data and counseling services. Additionally, the Fund offers various financial solutions with low profits for the visible projects that serve the national economy to cover all SMEs sectors.

The Khalifa Fund has recently launched several social initiatives, including Sougha and Amal. Sougha focuses on helping artisans working with handicrafts or traditional crafts develop and expand their skills. The goal is for artisans to be able to transfer their skills to a source of income and benefits the 400 Emiratis. Another social initiative is the Amal initiative, which serves people with special needs. Amal helps reintegrate inmates into society and helps them establish their businesses.

With all these great initiatives and plans in motion, we can expect to see a very productive year for the Khalifa Fund.

The National, Abu Dhabi's first English-language publication, recently reported on a McKinsey Global Institute report that said that global obesity has reached a new peak. Global obesity now has a cost of $2 trillion annually. This costs almost as much as smoking. To put that in another perspective, global obesity has a 2.8% impact on the gross domestic product of the world. This is not just a product of richer countries either. In fact, 15 percent of all healthcare costs in third-world countries had a direct relationship to obesity. The reports estimates that overweight and obesity levels might reach up to 50% by 2030 if we continue our ways.

As the founder of ALNOWAIS Investments, whose holdings include Pharmatrade, Hussain Al Nowais of Abu Dhabi understands the importance of controlling the global obesity epidemic to reduce costs and help everyone live happier and more healthy. Pharmatrade specializes in medical supplies, hospital equipment and consumer health products. Although there isn't an agreed-upon global solution, there are some things households can do on the individual level. Here are some things he suggests to keep in mind:

Get Up from the Chair: Sitting is the new smoking in many health circles. Health professionals warn that an increase in time sitting affects mortality rate, no matter how much you exercise. For every hour you sit, make sure to take a few minutes to get up, stretch and move around.

Increase the Greens: If you're looking for the most nutritional bang for your buck, go green. Kale, spinach, collard greens, beet and turnip greens, Swiss chard and romaine lettuce are just some of the options out there. Put them in a salad, in a smoothie or just eat them raw.

Use Wearable Technology to Motivate You: Apple might have announced the iWatch earlier this season, but there are a number of options out there already to help you boost your fitness levels. FitBit, Misfit, Jawbone and Garmin are some of the bigger brands out there. Each will track the number of steps you take, the amount of sleep you have and your caloric output.